But I don't think it's official. First and foremost, the track listing is a little odd. A few of the Peel sessions are hardly "rare", being on "Hatful of Hollow" (which Warners finally released in the US a few years back), and anyway why include those versions instead of the Peel session B-sides from "Last Night I Dreamt That Somebody Loved Me", or the Peel versions of "London" and "Half A Person"? What about "Rubber Ring"/"Asleep"? Why not "Hand In Glove" live, which was included on a Warners CD single in 1992?
I agree these selections would be a shame, but it wouldn't be the first or last time a record company hasn't been the sharpest when picking out a compilation tracklisting. Still, this is definitely a point to consider.
Also, the album sleeve: no way did Warners dig up the old sleeve for "Stop Me" and recycle it. They've shown they'll use other photos (for the "Best" albums and singles, "Very Best") that are "Smiths-like", so I really can't imagine they'd go back to old Murray Head.
Maybe for a digital release, as you say, production costs would intentionally by kept to the minimum (if this is digital only).